Phillips 66 (NYSE:PSX) Shares Sold by FORA Capital LLC

by · The Cerbat Gem

FORA Capital LLC lessened its position in Phillips 66 (NYSE:PSX – Free Report) by 92.6% in the 4th quarter, Holdings Channel reports. The fund owned 5,977 shares of the oil and gas company’s stock after selling 74,442 shares during the period. FORA Capital LLC’s holdings in Phillips 66 were worth $681,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Price T Rowe Associates Inc. MD lifted its position in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the period. Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $497,648,000. Raymond James Financial Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $142,185,000. Finally, Amundi grew its holdings in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after acquiring an additional 753,653 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. TD Cowen decreased their target price on shares of Phillips 66 from $127.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Mizuho lowered their target price on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Raymond James decreased their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Barclays decreased their target price on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $136.36.

Get Our Latest Stock Report on Phillips 66

Phillips 66 Trading Up 1.5 %

Shares of PSX stock opened at $110.86 on Friday. The company has a market capitalization of $45.17 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 4.84 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $111.61 and a 200 day moving average price of $119.37. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same period in the prior year, the firm earned $1.90 EPS. Research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.33%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is currently 109.34%.

Phillips 66 Company Profile

(Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Featured Articles

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX – Free Report).